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Judge formally dismisses charges vs. ex-banker Frank Quattrone

Judge formally dismisses charges vs. ex-banker Frank Quattrone

A federal judge has officially dismissed criminal charges against former star technology banker Frank Quattrone.
In an order signed Monday and made public late Wednesday, U.S. District Judge George B. Daniels entered a "nolle prosequi" (Latin for "no longer we shall prosecute") order just over a year after Quattrone, the one-time head of Credit Suisse First Boston's technology group, entered a deferred-prosecution agreement with prosecutors.
The deferred-prosecution agreement provided that obstruction-of-justice charges against Quattrone would be dismissed as long as he did not violate state or federal laws for a year's time.
The agreement allowed Quattrone, 51, to avoid a third trial on the charges and has paved the way for his possible return to the financial-services industry.
"For more than four years, I fought to clear my name and prove that the accusations against me were without merit," Quattrone said in a statement. "Today, the legal system has rendered its final verdict: I am innocent."
A spokeswoman for the U.S. Attorney's office in Manhattan declined comment Thursday.
Quattrone, one of the banking stars of the go-go Internet boom of the late 1990s, said he has not made any decisions about the next phase of his business career, but continues to be very interested in helping companies in the technology sector.
Prosecutors had accused Quattrone of thwarting federal probes into how CSFB allocated hot initial public offerings by endorsing a subordinate's e-mail message in December 2000 to "clean up" files. Quattrone's lawyers had argued he simply encouraged his team to follow company policy.
Quattrone's first trial on the charges ended in a deadlocked jury in October 2003. He was convicted by another jury in May 2004 and sentenced to 18 months in prison, but that conviction was thrown out last year.
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Chad Bray is a correspondent of Dow Jones Newswires.


Updated : 2021-07-25 15:38 GMT+08:00